Issue of equity structured products (ESP) INVESTEC BANK LIMITED ISSUE OF EQUITY STRUCTURED PRODUCTS (ESP) Investec Equity Structured Products (ESPIBL): Commencement Date: 23 December 2016 Reference Index FTSE/JSE Top 40 Index Strike Price 44,693.72 Expiry Date 25 May 2018 Cover Ratio 1:1 Call/Put Put Initial Issue Size 4,727 Adjusted Issue Size 3,366 JSE Code ESPIBL ZAE000199311 Holders of the ESPIBL are advised that an adjustment has been made to decrease the issue size to 3,366. This adjustment will be effective from Friday, 23 December 2016. The warrant is exercisable only in accordance with the terms and conditions as set out in the relevant offering circular. Copies of the offering circular may be obtained from: Investec Bank Limited 100 Grayston Drive Sandown Sandton 2196 Copies of Warrant issue documentation can be located on: Internet: www.investecwarrants.com Place and Date of Incorporation of the Issuer: Incorporated in the Republic of South Africa Registration Number: 1969/004763/06 Date of Incorporation: 31 March 1969 For further information kindly contact: Investec Warrants Tel.: 0860 103 343 E-mail: warrants@investec.co.za Sponsor: Investec Securities (Pty) Limited Member of the JSE Registration Number: 1972/008905/07 Date: 23/12/2016 11:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.